Technology Select Sector SPDRClose $185.62EOD only
Max Pain
$183.00
Next expiry Aug 21, 2026
Expected Move
±$3.79
2.0% from close
Price Gap
-2.62
Distance to max pain
IV Rank
11
Low premium
P/C OI
1.57
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects XLK options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — XLK
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $183.00 (2.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$183.00
Nearest expiry
Expected Move
±$3.79
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
45,065
Nearest expiry
Total Put OI
98,702
Nearest expiry
P/C OI Ratio
2.19
Put-heavy
Spot Price
$185.62
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-08-07
$180.00
8/7/2026, 11:39:26 PM
2026-08-14
$185.00
8/14/2026, 11:44:04 PM
2026-08-21NextUpdated
$183.00
8/18/2026, 11:45:01 PM
2026-08-28
$186.00
8/18/2026, 11:45:01 PM
2026-09-04
$187.00
8/18/2026, 11:45:01 PM
2026-09-11
$189.00
8/18/2026, 11:45:01 PM
2026-09-18
$175.00
8/18/2026, 11:45:01 PM
2026-09-25
$189.00
8/18/2026, 11:45:01 PM
2026-10-02
$188.00
8/18/2026, 11:45:01 PM
2026-10-16
$185.00
8/18/2026, 11:45:01 PM
2026-12-18
$172.50
8/18/2026, 11:45:01 PM
2027-01-15
$155.00
8/18/2026, 11:45:01 PM
2027-03-19
$180.00
8/18/2026, 11:45:01 PM
2027-04-16
$170.00
8/18/2026, 11:45:01 PM
2027-06-17
$145.00
8/18/2026, 11:45:01 PM
Selected expiration: 2026-08-21 at max pain $183.00.
XLK pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
728108000
728108000
80
5000
678780500
678785500
85
10000
629558500
629568500
90
15500
580355500
580371000
95
22000
531155500
531177500
100
46000
482059000
482105000
105
143500
432987000
433130500
110
243500
383929500
384173000
115
345500
334979000
335324500
120
557000
286226000
286783000
125
807000
237523000
238330000
130
1075000
189068000
190143000
131
1130500
183943800
185074300
132
1189500
178821100
180010600
133
1251100
173711400
174962500
134
1313400
168604500
169917900
135
1375800
163501100
164876900
136
1438900
158443700
159882600
137
1503300
153388100
154891400
138
1568400
148339500
149907900
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.